Car Finance Plus explained

Lloyds Bank Car Finance Plus gives you 2 options to choose from: Fixed Car Finance (Hire Purchase) or Flex Car Finance (Personal Contract Purchase), so you can finance your car with an agreement that suits your needs.

We cover the majority of UK dealers and most car models, and will confirm early into the online process that our finance is available for the car you are planning to buy, and from the dealer you’re planning to buy from.

What you need to know

There are some restrictions on the make, model, age and mileage of the car. We can't finance commercial vehicles and purchase s from private individuals.

At the moment we don't offer part-exchange with Lloyds Bank Car Finance. However, you can get an independent valuation and sell your car, and use the money from the sale as a deposit for your new car, or you can arrange a part-exchange with the dealer you’re buying your car from.

We also don’t offer any re-finance plans on credit agreements taken with other providers, nor do we offer consolidation of finance, for example paying off a loan or credit card used to buy a car.

Working out your deposit

Your deposit is the amount of money you have available to pay the dealer upfront and could include savings and/or the value of a current vehicle (less any outstanding finance).

What is Satisfactory Quality?

By law, goods sold must be of satisfactory quality and fit for the purpose for which they were intended. We are responsible for the quality of the goods and resolving any disputes where the goods aren’t of the required standard.

Internet Banking offer only

Lloyds Bank Car Finance Plus is only available to our online registered personal current account customers. Once you are logged on to Internet Banking, you can use our personalised calculator to see which finance option suits you.

Apply online with no obligation

We don’t need to do any additional credit searches because we already know you.

You can browse your options and apply for car finance and no credit footprint is made until you collect your car.

Details we’ll need

Once you’ve found the car you’d like to buy, we’ll need some details. If it’s a used car we’ll ask you:

  • dealer’s name and postcode
  • the registration number
  • current mileage
  • how many miles you expect to drive each year for the Flex option
  • the price
  • the deposit

If it’s a new car we’ll also need:

  • the delivery date of your car
  • the full vehicle details if you don’t know the registration

We’ll also ask details of your finances such as monthly income, mortgage/rent payments; your regular spending, and any existing car finance commitments.

Completing your application

If your finance option is approved, the offer will be valid for 90 days. You can secure the car with the dealer first, and then complete the finance agreement online.

We transfer the finance amount to your dealer directly, once you've signed the legal documents. It can take several hours for your dealer to receive the money.
Payments made after 3.30pm will be with your dealer before 12pm the next day.

Your options Fixed Car Finance Flex Car Finance
Type of financing Hire Purchase (HP) Personal Contract Purchase (PCP)
Monthly payments Your monthly payments are higher than Flex Car Finance, but there is no final lump sum payment at the end to own the car Your monthly payments are lower than Fixed Car Finance, but you have to pay a final lump sum payment at the end of the term if you decide to keep the car.
Car ownership Once you’ve made your final monthly payment you’ll become the owner of the car At the end of the term you can:
- Pay a final lump sum to own the car
- Hand the car back (mileage and car condition restrictions apply)
Borrowing terms You can choose payment terms from 1 to 5 years. You can choose payment terms from 1 to 4 years.
Yearly mileage limit No Yes, set at the beginning of the agreement
Early payment fees No No
Find out more about Fixed Car Finance Find out more about Flex Car Finance

Want to check your statement or make an extra payment?

It’s easy online. Log on to manage your Lloyds Bank Car Finance Plus, using the agreement number sent to you in your application. You can also find this on your contract agreement or in your welcome letter.

Log on to Lloyds Car Finance Portal

If you can't find your agreement number, call us on +44(0)333 202 7946. Lines open Monday to Friday 8:30am - 6pm (excluding UK Bank Holidays) Saturday 9am - 1pm.

Got Fixed Car Finance?

Congratulations. Once you make your final monthly payment you will become the owner of the car.

Got Flex Car Finance?

We’ll contact you 90 days before the end of your finance agreement to outline the options you have.

Flex Car Finance option 1: returning the car

If you decide to return the car to us, you’ll need to call our Customer Services team on +44 (0)333 202 7946. Lines open Monday to Friday 8:30am - 6pm (excluding UK Bank Holidays) Saturday 9am - 1pm. We can either arrange to pick the car up from you free of charge (providing the car is still driveable) or if you'd prefer you can return it to one of 15 authorised venues across the UK. If the car cannot be driven and requires a tow-truck the charge is £250.

Once the car has been collected or returned, we’ll check the mileage and that it is in good condition. Providing it is, we’ll write to you confirming that the agreement has ended and your Car Finance account is closed.

Flex Car Finance option 2: replacing your car

You’ll need to request an early settlement figure from us, which you can do online, and settle your current contract before you can begin a new one. You will also have the option to voluntarily terminate your contract. Our customer services team will be able to give you details of the early settlement balance or more information about voluntary termination, and the steps you'd need to take.

Flex Car Finance option 3: keeping the car

If you decide to keep the car the final lump sum payment that was quoted in the application will be taken by Direct Debit , from your bank account that you pay your car finance from. Congratulations. You now own your car.

If you’re buying a car, we can offer you a new way to pay for it.

Lloyds Bank Car Finance Plus is secured against the car which means we can offer a great rate of 3.5% APR Representative when you borrow between £7,500 and £60,000. You choose the deposit amount, length of term and payment options, and then, at the end of your agreement, you can own or return your car, depending on the product you choose.

You can apply for Car Finance if you’re aged 18 or older, you’re a resident in the UK, and you’ve held a Lloyds Bank personal current account for more than 3 months.



Car finance calculator

If you've had a Lloyds Bank personal current account for more than 3 months log on and use our online calculator to check your personalised rates.

Not registered for Internet Banking yet? Register here.

Log on to get started

Existing customers

Existing customers

Want to check your statements or make an extra payment?

Contact us

Contact us

If you can't find what you need or need to speak to someone about your Car Finance, call us on +44 (0)333 202 7969. Lines are open 9am – 6pm, 7 days a week.